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HP bought UK software company Autonomy for $11.7bn in 2011. But on 20 November 2012, HP released a statement claiming Autonomy had used “accounting improprieties, misrepresentations and disclosure failures to inflate the underlying financial metrics of the company” to boost its sale price.

Seeming to plea for a quick resolution to the issues, Lynch concluded: “Hewlett Packard is an iconic technology company, which was historically admired and respected all over the world. Autonomy joined forces with HP with real hopes for the future and in the belief that together there was an opportunity to make HP great again.”

“I have been truly saddened by the events of the past months and am shocked and appalled by the events of the past week.”

HP responds to Mike Lynch

HP issued a stark reply to the letter shortly after, reiterating its allegations, following “an intense internal investigation into a series of accounting improprieties, disclosure failures and outright misrepresentations.”

HP said the matter was in the hands of the authorities now – adding the US department of justice to the SEC and SFO – and confirmed it would be taking its own legal actions against the employees involved.

“While Dr Lynch is eager for a debate, we believe the legal process is the correct method in which to bring out the facts and take action on behalf of our shareholders,” said HP.

“In that setting, we look forward to hearing Dr Lynch and other former Autonomy employees answer questions under penalty of perjury.”

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